, this is Trump’s plan to manage the oil price crisis he created as a result of the Strait of Hormuz being closed.
https://x.com/Megatron_ron/status/2049124696881611063
Why did the UAE leave OPEC+?
For those who want it simplified:
> Oil prices are high, Trump doesn’t like this at all — he needs a solution
> By leaving OPEC, the UAE can produce and export much more oil, as it is no longer bound by quotas
> This increases the circulating supply
> More supply lowers the prices of oil globally, at least temporarily
> Lowering the price of oil is bad for countries like Saudi Arabia that aren’t able to offset it by increasing production, so they get annoyed
In short, this is Trump’s plan to manage the oil price crisis he created as a result of the Strait of Hormuz being closed.
posted by Satish Sharma at
03:07
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